Business

Katahdin Bankshares Corp. reports fourth quarter results

HOULTON, Maine — Katahdin Bankshares Corp.,, parent company of Katahdin Trust Company, a community bank founded in 1918 serving northern Maine and the greater Bangor and Portland regions, has announced fourth-quarter earnings of $3.4 million, or $1.01 per common share. Total assets reached $937.0 million.

 “It is remarkable what we have been able to achieve this past quarter,” said Jon J. Prescott, Katahdin Trust president and chief executive officer. “Not only did we experience solid financial results, but our team also remains completely dedicated to helping our customers, small businesses and local communities.”

 Additionally, the Board of Directors of Katahdin Bankshares Corp. approved a Stock Buyback Program which authorizes the purchase up to $2,000,000 of the Company’s outstanding shares of Common Stock over the next 12-month period. Shares may be repurchased by the Company and may be purchased by Katahdin Trust Company’s Employee Stock Ownership Plan. Shareholders interested in the buyback program should feel free to contact the Company. 

For more information and to view a copy of Katahdin’s most recent quarterly financial report, visit KatahdinTrust.com/Shareholder-Relations.

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